Friday, July 15, 2005

Videocon to raise fund through GDR/FCCB

VIDEOCON Industries Ltd the major Indian brand in Home appliance and consumer durables segment is expected to take a decision on raising Rs 5,000 crore through issue of global depository receipts (GDRs) and/or foreign currency convertible bonds (FCCBs) at its board meeting on July 23. The company on Friday informed the Bombay Stock Exchange that the board would consider granting approval to issue of GDRs or FCCBs and equity shares through prospectus/letter of offer or circular and/or by private placement on preferential basis and/or on rights basis.